VAALCO Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Note 1 - Organization and Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

	*As of September 30,*
	*2022*		*2021*
	*(in thousands)*
Cash and cash equivalents	$	69,289	$	52,839
Restricted cash - current		203		81
Restricted cash - non-current		1,755		1,752
Abandonment funding		18,838		22,281
Total cash, cash equivalents and restricted cash	$	90,085	$	76,953

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
	(in thousands)
Allowance for bad debt
Balance at beginning of period	$	(6,389	)	$	(5,575	)	$	(5,741	)	$	(2,273	)
Bad debt charge, net of receipts		(1,020	)		(318	)		(2,083	)		(814	)
Adjustment associated with Sasol Acquisition		—			—			—			(2,879	)
Foreign currency gain (loss)		355			117			770			190
Balance at end of period	$	(7,054	)	$	(5,776	)	$	(7,054	)	$	(5,776	)

As of September 30, 2022

Balance Sheet Line

Level 1

Level 2

Level 3

Total

(in thousands)

Assets

Derivative asset

Prepayments and other

—

348

—

348

—

348

—

348

Liabilities

SARs liability

Accrued liabilities and other

—

544

—

544

—

544

—

544

		*As of December 31, 2021*
	*Balance Sheet Line*	*Level 1*		*Level 2*		*Level 3*		*Total*
		*(in thousands)*
Liabilities
SARs liability	Accrued liabilities and other	$	—	$	609	$	—	$	609
Derivative liability	Accrued liabilities and other		—		4,806		—		4,806
		$	—	$	5,415	$	—	$	5,415